Barclays will join the other investors including Virgo Investments, Orange Wings Capital, QuietStar Capital, and other family office investors
80 Acres Farms raises funding to promote automated vertical farming technology. (Credit: MoneyforCoffee from Pixabay)
80 Acres Farms has raised a funding round led by British financial services company Barclays to accelerate growth in automated vertical farming technology.
Barclays will join the other investors, including Virgo Investments, Orange Wings Capital, QuietStar Capital, and other family office investors.
A member of Unreasonable Impact Americas programme, 80 Acres Farms provides fresh and nutritious fruits and vegetables to customers at affordable prices.
The company addresses sustainability and food security by growing food differently with vertical farming technology and reducing the use of water by 97% on less than 1% of the land, with 300x the yield.
80 Acres Farms CEO Mike Zelkind said: “There has been an explosion in demand for fresh, locally grown, nutritious food, and this investment round enables us to continue to meet that demand at the right unit economics.
“We look forward to developing our relationship with Barclays and their global network through our shared passion for enhancing sustainability in this industry.”
80 Acres Farms operates eight indoor farms in US
It operates eight indoor farms in the US, along with a new facility in Hamilton, Ohio that was constructed by an affiliated company as well as Infinite Acres, which will deliver 10 million servings in its first year.
80 Acres Farms offers customers a variety of pesticide-free food with a longer shelf life that exceeds the highest food safety standards.